When you run a small business, every dollar counts. It’s vital that you allocate your limited funds towards business activities that will provide the biggest payoff. Smart business moves like hiring a consultant, building a website, and investing in digital marketing fall into this camp.
Hiring a certified professional accountant (CPA) is one incredibly valuable move that small business owners tend to overlook. Check out these tips to learn how you can leverage the power of a professional CPA to take your business to the next level!
Get Help with the Start-Up Phase
You will have to navigate several complicated financial steps as you prepare your business for launch. This is where a CPA will provide a lot of valuable guidance!
- Your accountant can help you choose the best business structure for your needs.
- They’ll also help you write the financial section of your business plan.
- Your accountant will offer further assistance in choosing and opening a business bank account.
Establish Proper Accounting Procedures
Good accounting practices are vital to the ongoing success of your business, so consider working with a CPA who can help you maintain a reliable accounting system.
- A CPA will get you set up with a reliable bookkeeping system so you can maintain good financial records.
- An accountant will help you estimate and pay quarterly taxes.
- When it’s time to build a team, your accountant can help you classify your employees properly.
Scale Your Business Successfully
An accountant is a great person to have on your side when it comes time to grow your business. They’ll help you navigate the process of scaling successfully.
- Your CPA will help you set data-driven goals based on your existing financial situation.
- They’ll establish scalable accounting practices that will grow with your business.
- A CPA can also help you avoid an audit—and support you through an audit if it happens to you.
While there are many benefits of hiring a CPA for your business, you can always educate yourself in accounting if you can’t afford to hire a professional or if you’d rather go the DIY route. Getting a bachelor’s degree in accounting can set you up for success by learning top skills like accounting, auditing, and financial statements. Some degree programs offer short course durations, so you can still manage your business efficiently.
If you do have room in your budget, then investing in a CPA is a no-brainer! Whether you’re a brand-new business preparing to launch or a thriving company looking to grow, working with an accountant will ensure you cover all of your financial bases and avoid costly mistakes along the way. Start looking for a reliable CPA today!
Angelytix Consulting is here to help you reach your business goals. Whether you need assistance with financing, marketing, or bringing an idea to life, get in touch with us today at 310-955-1369.